Skip to content
Nonprofiteer
← RAFT RIVER RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by RAFT RIVER RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$21,073,924
Total expenses
$20,961,328
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$20,961,328
Investment income
$7,323
Other revenue
$105,273
Total assets, end of year
$62,248,290
Total liabilities, end of year
$16,568,535
Net assets or fund balances, end of year
$45,679,755
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ELECTRIC REVENUE

    total $20,961,328 · related or exempt $20,961,328

  • 3 · Investment income

    total $86,291 · excluded $86,291

  • 7a · Gross sales of assets other than inventory

    other assets $85,030

  • 7b · Less cost or other basis and sales expenses

    other assets $163,998

  • 7c · Gain or loss

    other assets -$78,968

  • 7d · Net gain or loss

    total -$78,968 · related or exempt -$78,968

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: OTHER NON OPERATING REV

    total $105,273 · related or exempt $105,273

  • 11e · Other revenue, total

    $105,273

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,268,826

  • 5 · Compensation of officers, directors and key employees

    total $392,775

  • 7 · Other salaries and wages

    total $2,530,506

  • 8 · Pension plan contributions

    total $642,692

  • 9 · Other employee benefits

    total $511,914

  • 10 · Payroll taxes

    total $266,173

  • 12 · Advertising and promotion

    total $25,899

  • 13 · Office expenses

    total $104,127

  • 20 · Interest

    total $627,440

  • 22 · Depreciation, depletion and amortization

    total $2,244,316

  • 23 · Insurance

    total $259,552

  • 24a · Other expenses: COST OF POWER

    total $10,698,128 · program services $10,698,128

  • 24b · Other expenses: PROPERTY & GROSS RECEIPT TAX

    total $388,980 · program services $388,980

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $285,873 · end of year $784,148

  • 2 · Savings and temporary cash investments

    beginning of year $1,156,581 · end of year $1,218,381

  • 4 · Accounts receivable

    beginning of year $1,268,954 · end of year $1,366,813

  • 8 · Inventories for sale or use

    beginning of year $1,955,139 · end of year $1,869,027

  • 9 · Prepaid expenses and deferred charges

    beginning of year $79,585 · end of year $85,899

  • 10a · Land, buildings and equipment: cost or other basis

    $93,534,726

  • 10b · Land, buildings and equipment: accumulated depreciation

    $37,699,703

  • 10c · Land, buildings and equipment, net

    beginning of year $53,988,703 · end of year $55,835,023

  • 13 · Investments: program-related

    beginning of year $1,102,333 · end of year $1,083,549

  • 15 · Other assets

    beginning of year $5,435 · end of year $5,450

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,821,439 · end of year $2,817,666

  • 19 · Deferred revenue

    beginning of year $323,515 · end of year $284,135

  • 23 · Secured mortgages and notes payable

    beginning of year $12,120,059 · end of year $13,466,734

  • 29 · Capital stock, trust principal or current funds

    beginning of year $42,655 · end of year $45,605

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $40,296,772 · end of year $41,065,598

  • 31 · Retained earnings, endowment or other funds

    beginning of year $4,238,163 · end of year $4,568,552

Mission and programs · 2024

Mission

TO ENHANCE THE LIVES OF OUR MEMBERS AND COMMUNITIES BY PROVIDING SAFE, RELIABLE, COST-EFFECTIVE ENERGY AND EXCEPTIONAL MEMBER SERVICE.

  • THE COOPERATIVE PURCHASES AND PROVIDES ELECTRIC ENERGY TO ITS MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Chad Black

    GENERAL MANAGER

    Total calculated
    $332,400
    From this org
    $237,837
    From related orgs
    $0
    Other
    $94,563
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $237,837
    Bonus
    not reported
    Other
    not reported
    Deferred
    $66,365
    Nontaxable benefits
    $28,198
    Filer's total
    $332,400

  • Andrea Scott

    FINANCE & ACCOUNTING MANAGER

    Total calculated
    $223,008
    From this org
    $156,389
    From related orgs
    $0
    Other
    $66,619
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $156,389
    Bonus
    not reported
    Other
    not reported
    Deferred
    $45,831
    Nontaxable benefits
    $20,788
    Filer's total
    $223,008

  • Richard Hall

    ENGINEERING MANAGER

    Total calculated
    $215,904
    From this org
    $143,246
    From related orgs
    $0
    Other
    $72,658
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $143,246
    Bonus
    not reported
    Other
    not reported
    Deferred
    $45,831
    Nontaxable benefits
    $26,827
    Filer's total
    $215,904

  • Tracy Bankhead

    LINE FOREMAN

    Total calculated
    $212,301
    From this org
    $146,290
    From related orgs
    $0
    Other
    $66,011
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $146,290
    Bonus
    not reported
    Other
    not reported
    Deferred
    $39,596
    Nontaxable benefits
    $26,415
    Filer's total
    $212,301

  • Kenneth Loughmiller

    LINE FOREMAN

    Total calculated
    $212,158
    From this org
    $146,150
    From related orgs
    $0
    Other
    $66,008
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $146,150
    Bonus
    not reported
    Other
    not reported
    Deferred
    $39,596
    Nontaxable benefits
    $26,412
    Filer's total
    $212,158

  • Eric Loock

    JOURNEYMAN LINEMAN

    Total calculated
    $181,561
    From this org
    $142,131
    From related orgs
    $0
    Other
    $39,430
    Hours/week
    0

    Schedule J breakdown matched by us

    Base
    $142,131
    Bonus
    not reported
    Other
    not reported
    Deferred
    $13,257
    Nontaxable benefits
    $26,173
    Filer's total
    $181,561

  • Robert Cottle

    SECRETARY

    Total calculated
    $11,675
    From this org
    $11,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.32

  • John Campbell

    PRESIDENT

    Total calculated
    $9,925
    From this org
    $9,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.81

  • Erik Spencer

    BOARD MEMBER

    Total calculated
    $9,300
    From this org
    $9,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.56

  • Sherrie Erickson

    BOARD MEMBER

    Total calculated
    $8,300
    From this org
    $8,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.49

  • Jason Harper

    VICE PRESIDENT

    Total calculated
    $7,525
    From this org
    $7,525
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3

  • Shawn Burt

    BOARD MEMBER

    Total calculated
    $7,350
    From this org
    $7,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.04

  • Lindsey Manning

    BOARD MEMBER

    Total calculated
    $5,250
    From this org
    $5,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.54

  • Krinn McCoy

    BOARD MEMBER

    Total calculated
    $1,050
    From this org
    $1,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2024
Filed
28 May 2025
IRS schema version
2024v5.1
Source object
202501489349301615

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.